Banque ouest africaine de développement (BOAD)

West African Development Bank (WADB)

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1973-11-14 Paris France


14 Nov 1973, Paris (France), and 4 Dec 1973, Dakar (Senegal), on signature of Treaty by the then 6 member states of H-XD3426 - Union monétaire Ouest africaine (UMOA). Treaty came into force in Oct 1974; BOAD became operational in 1976.

Statutes adopted 1974; amended at meetings of the Council of Ministers of UMOA: 20 Dec 1977; 10 Apr 1979; 10 Apr 1980; 22 Dec 1981; 1 Jul 1982; 29 Dec 1982; 12 Sep 1984; 19 Sep 1987; 16 Sep 1988; 10 Apr 1991; 28 Mar 1996; 2 Jul 1998.

Mali joined UMOA and BOAD as from 1 Jun 1984 and Guinea-Bissau joined UEMOA and BOAD from 2 May 1997.

Since 1 Aug 1994, BOAD is a financial institution of F-XF3713 - Union économique et monétaire Ouest africaine (UEMOA).


As a joint financing institution of UEMOA member states, promote their balanced development and achieve economic integration of West Africa; assist in pooling available internal resources; mobilize external capital, both loans and grants; finance by means of loans, guarantees, shareholdings, etc, projects designed to build up the infrastructure needed for development; establish new activities; improve conditions and means of production, transferring ownership of means of production and of distribution of goods and services to public or private legal entities in UEMOA countries or to individual citizens of those countries; prepare and evaluate development projects.


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Headed by President, appointed by UEMOA Council of Ministers. President is assisted by Vice-President and the Governing Board, consisting of: President of the Bank; a representative and a substitute appointed by each member state of the Union; Governor of the Central Bank West African States or his representative; representatives of Class B shareholders. Head Office in Lomé (Togo) includes: Office of the President; 4 departments - General affairs, Operation evaluation and internal audit, Finance and accounting, Funding and studies; Risk management unit. Representation Offices (6) attached to the Vice-Presidency.


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Relations with Inter-Governmental Organizations

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Relations with Non-Governmental Organizations

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Type II Classification

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Subjects *

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UN Sustainable Development Goals **

GOAL 8: Decent Work and Economic Growth



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** UN SDGs are linked to the subject classification.

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